In Cakewalk you play the role of a baker who must catch cakes as they come off the end of one of six conveyer belts. Cakes come down the belts at different intervals and speeds, which makes predicating where the next cake will be somewhat difficult. To help make up for this, the baker can stop any conveyer belt (one at a time) for four seconds by pressing the fire button. While a belt is frozen, the cake will not advance down the belt until it unfreezes. If too many cakes fall off the belt, then it's game over.
Cakewalk looks and plays somewhat similarly to another 2600 game you may have heard about called Tapper. Although the games are different enough to be considered distant cousins at best, there are striking similarities between the two.